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Looking for a way to generate extra cash? Consider selling some of your old clothes.
More than half (52%) of consumers purchased second-hand apparel last year, according to the survey. 2023 Resale Report From ThredUp, an online used clothing store.
ThredUP says that one-third of the apparel sold in the last 12 months was pre-owned. The Generation Z member has second-hand clothing that makes up two-fifths of the items he owns.
This trend towards second-hand clothing means that the global second-hand clothing market could nearly double and grow to $350 billion by 2027, according to a ThredUp report.
This growth can be a great opportunity for those looking for ways to make more money.
You may be able to earn a small amount of money by selling used clothes. According to ThredUp, certain clothing brands are likely to fetch particularly high prices. Here are the 10 most popular brands:
- fierce
- lululemon athletica
- madewell
- Zara
- free people
- Patagonia
- reform
- urban outfitters
- Everlane
- Vuori
To create the rankings, ThredUp asked retail analytics firm Global Data to ask more than 3,000 US adults and the top 50 US fashion retailers about their preferences in the second-hand market. Global Data also assessed the second-hand market according to “consumer research, retailer tracking, official public data, data sharing, store observations, and secondary sources.”
In the report ThredUp co-founder and CEO James Reinhart says the biggest reason people turn to second-hand clothes is because of the low prices. But it’s not the only factor:
“Value continues to be a key driver in motivating consumers to put second-hand goods first, but global climate concerns have increased awareness of the potential of resale to reduce the environmental impact of fashion. We are just beginning to invent ways to reduce the ongoing overproduction in the apparel industry through resale, and I don’t think the world will ever return to what it was before.”
Selling used clothes is just one way to make a little money. For more info, see 35 smart ways to make extra money.